Telangana CID arrests couple absconding for 11 yrs in Bangalore, defrauded sum put at Rs. 90 crore
The CID of Telangana has successfully apprehended a fraudster couple who had been on the run for 11 years.
- Crime
A Saye Sekhar- Updated On:3 May 2024 2:32 PM GMT
HYDERABAD: In a significant breakthrough, the Crime Investigation Department (CID) of Telangana has successfully apprehended a fraudster couple who had been on the run for 11 years. The accused, identified as Manikonda Anjaneyulu and his wife Manikonda Reeta, were arrested in Bangalore, Karnataka by the CID team. The couple had been evading authorities since 2013 and were wanted in connection with multiple cases, including Cr. No. 226/2013 under sections 420, 406, 403 of the Indian Penal Code at Balanagar Police Station, being investigated by CID, RO, Sangareddy (Economic Offenses Wing).
Manikonda Anjaneyulu served as the Managing Director, while his wife Manikonda Reeta held the position of Director at M/S Adarsh Communications Pvt. Ltd, a company specialised in the import of communication equipment and the sale of various cellular phones and other products. The accused couple had sought financial assistance from SBI Balanagar Branch, securing a loan amounting to Rs. 27 crores for working capital purposes. However, they defaulted on the loan repayment and subsequently went absconding. The total defrauded amount is assessed at close to Rs 90 crore.
Following complaints from bank officials, a case was registered against the couple, leading to a series of investigations that uncovered their involvement in multiple fraudulent activities. It was revealed that the accused had defrauded finance companies and private investors in Hyderabad and Cyberabad Commissionerate, amounting to a staggering sum of Rs. 60 crores.
Under the directives of Shikha Goel, Additional Director-General of Police, CID Telangana, a dedicated team, headed by DSP P. Sreedhar, was formed to track down the absconding fraudsters. After relentless efforts, the team successfully located and arrested the accused in Bangalore. The fraudster couple is now set to be presented before the XIII Additional Metropolitan Magistrate in Kukatpally, Hyderabad for further legal proceedings.
